+
Gujarat Calls for Bids on 500 MW Wind-Solar Hybrid Projects
POWER & RENEWABLE ENERGY

Gujarat Calls for Bids on 500 MW Wind-Solar Hybrid Projects

The Gujarat Urja Vikas Nigam Limited (GUVNL) has launched Phase II of its ambitious renewable energy initiative, inviting bids for the procurement of power from 500 MW grid-connected wind-solar hybrid projects. This phase also includes the provision for expanding the capacity by an additional 500 MW through the greenshoe option, a move aimed at further bolstering Gujarat's renewable energy portfolio.

Following the recent awarding of contracts for Phase I projects to KPI Green Energy and Juniper Green Energy, GUVNL is moving swiftly to advance its renewable energy agenda. Interested parties have until March 13, 2024, to submit their bids, with bid openings scheduled for the following day.

Prospective bidders must adhere to stringent financial requirements, including a bid processing fee of ₹1.5 million ($18,083.07) and an earnest money deposit of ₹928,000 ($11,146)/MW of quoted capacity. Additionally, successful bidders will be required to furnish a performance bank guarantee equivalent to ₹2.32 million (~$27,866)/MW of allocated capacity before signing the power purchase agreement (PPA).

Eligibility criteria encompass various project statuses, including those under construction, not yet operational, or lacking a long-term PPA. However, projects must not have existing obligations under other state or central programs and should mitigate technology risks by employing established and operational technologies.

Bidders from countries sharing a border with India are eligible to participate, provided they are registered with the competent authority. Furthermore, financial stability is a prerequisite, with the bidder's net worth required to meet or exceed specified thresholds based on the project's solar PV and wind power components.

To ensure adherence to quality standards, only certified wind turbine models listed by the Ministry of New and Renewable Energy (MNRE) and solar modules approved by the MNRE will be permitted for use in the projects.

Successful bidders must finalize a PPA with GUVNL within 30 days of receiving the letter of intent or within 10 days of tariff adoption by the Gujarat Electricity Regulatory Commission, whichever is later.

With its latest tender, Gujarat reaffirms its commitment to renewable energy expansion, positioning itself as a frontrunner in India's transition towards sustainable power generation.

GUVNL's emphasis on technology reliability and financial stability underscores its dedication to facilitating the growth of renewable energy infrastructure, contributing to both environmental sustainability and energy security in the region.

The Gujarat Urja Vikas Nigam Limited (GUVNL) has launched Phase II of its ambitious renewable energy initiative, inviting bids for the procurement of power from 500 MW grid-connected wind-solar hybrid projects. This phase also includes the provision for expanding the capacity by an additional 500 MW through the greenshoe option, a move aimed at further bolstering Gujarat's renewable energy portfolio.Following the recent awarding of contracts for Phase I projects to KPI Green Energy and Juniper Green Energy, GUVNL is moving swiftly to advance its renewable energy agenda. Interested parties have until March 13, 2024, to submit their bids, with bid openings scheduled for the following day.Prospective bidders must adhere to stringent financial requirements, including a bid processing fee of ₹1.5 million ($18,083.07) and an earnest money deposit of ₹928,000 ($11,146)/MW of quoted capacity. Additionally, successful bidders will be required to furnish a performance bank guarantee equivalent to ₹2.32 million (~$27,866)/MW of allocated capacity before signing the power purchase agreement (PPA).Eligibility criteria encompass various project statuses, including those under construction, not yet operational, or lacking a long-term PPA. However, projects must not have existing obligations under other state or central programs and should mitigate technology risks by employing established and operational technologies.Bidders from countries sharing a border with India are eligible to participate, provided they are registered with the competent authority. Furthermore, financial stability is a prerequisite, with the bidder's net worth required to meet or exceed specified thresholds based on the project's solar PV and wind power components.To ensure adherence to quality standards, only certified wind turbine models listed by the Ministry of New and Renewable Energy (MNRE) and solar modules approved by the MNRE will be permitted for use in the projects.Successful bidders must finalize a PPA with GUVNL within 30 days of receiving the letter of intent or within 10 days of tariff adoption by the Gujarat Electricity Regulatory Commission, whichever is later.With its latest tender, Gujarat reaffirms its commitment to renewable energy expansion, positioning itself as a frontrunner in India's transition towards sustainable power generation.GUVNL's emphasis on technology reliability and financial stability underscores its dedication to facilitating the growth of renewable energy infrastructure, contributing to both environmental sustainability and energy security in the region.

Next Story
Infrastructure Urban

India to Invest Rs 600 Billion to Upgrade 1,000 ITIs

As part of its drive to modernise vocational training, the Ministry of Skill Development and Entrepreneurship (MSDE), in collaboration with Gujarat’s Labour and Employment Department, held a State-Level Workshop at the NAMTECH Campus within IIT-Gandhinagar to discuss the National Scheme for ITI Upgradation.The consultation brought together key stakeholders from industry and the training ecosystem to align expectations and support implementation of the scheme, which aims to transform 1,000 Industrial Training Institutes (ITIs) across India using a hub-and-spoke model. The total outlay stands ..

Next Story
Infrastructure Urban

India Unveils Rs 600 Billion Maritime Finance Push

The Ministry of Ports, Shipping & Waterways (MoPSW) hosted the Maritime Financing Summit 2025 in New Delhi, bringing together over 250 stakeholders including policymakers, industry leaders, global investors, and financial institutions. The summit, held under the ambit of Maritime Amrit Kaal Vision (MAKV) 2047, focused on transforming India into a leading maritime power with strengthened financial, infrastructural, and technological capabilities.Union Minister Sarbananda Sonowal emphasised India's strategic progress, noting that average port turnaround times have dropped from four days to u..

Next Story
Infrastructure Urban

Govt Allocates Rs 500 Million To Boost Community Radio

The Central Government, through its ‘Supporting Community Radio Movement in India’ scheme, has allocated Rs 500 million to strengthen the community radio ecosystem across the country. The initiative aims to assist both newly established and long-operational Community Radio Stations (CRSs), ensuring their relevance to local educational, social, cultural, and developmental needs.According to the policy published by the Ministry of Information and Broadcasting, CRSs may be set up by not-for-profit organisations with at least three years of demonstrated community service. These stations are ex..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?